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Retaining Plan Records

…name, Social Security number, date of birth, and marital/family status Employment history information Officer and ownership history and familial relationships Election forms for deferral amount, investment direction, beneficiary designation, and distribution requests Listing of contribution and distribution transactions Notarized spousal consents and waivers Electronic Documentation…

Answering the “Why Us?” Question

…and what you recommend, but why they should do it with you. To be sure, your years of professional service and your credentials matter, but in a universe with many people who share the same designations and path as you, these things may not distinguish…

It’s Not a One-Size-Fits-All World

…AND your expertise. It’s all about asking the right questions so that together, we can design the ideal retirement plan for each of your clients. For more on this, download the question list and give us a call to talk about how we can help….

Taming the Millennial Horse

…savings crisis that the United States faces as a whole, we believe that Millennials should consider reordering their priorities. Digging Deep Following a round of written responses from survey participants around the country, Pentegra independently interviewed a number of respondents for additional information designed not…

Getting Ready for a PEP Rally!

…of PEPs allow the participating employers to benefit from lower fees than in traditional single employer plans. In the RFI, the DOL states: PEPs are required to designate a pooled plan provider who is a named fiduciary of the PEP. As a fiduciary, the pooled…

SECURE – What It Can Mean for Small Businesses

…contribution plans. To be eligible, GoP member plans must – among other things — be an individual account plan or defined contribution plan; operate under the same trustees; and have the same designated fiduciary or fiduciaries. GoPs are scheduled to be made available in 2022….

The CARES Act and Your Retirement Plan

The $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law on March 27, is designed to provide much-needed economic relief to individuals and businesses adversely affected by Coronavirus (COVID-19). But what everyone might not know about CARES is that it also…

What is Non-Discrimination Testing?

…the likelihood of HCEs receiving refunds you may want to take advanced planning steps to minimize any uncertainty and the consequences of the testing process. Some approaches to adopt are: Make plan participation more attractive to lower-paid employees through plan redesign, adding more investment options,…

Back to Basics: Record Retention

…of legal action, such as participant divorce proceedings or dis-gruntled employee lawsuits. Participant information that should be retained includes: Determination of eligibility Hire and termination dates Beneficiary designations Notarized spousal consents and waivers Loan, hardship, and distribution documentation Hours worked for vesting and allocation purposes…

A Checklist for Plan Sponsors

…than the law requires. Plan Forms. All forms should meet current requirements. Forms that may need updating include beneficiary designation forms, benefit election forms, and the notice of distribution options. If you are unsure whether your plan currently meets all the requirements of our checklist,…

A Tale of Two Businesses

…asset for a small business. Retirement plans can be designed to help small business owners preserve what they have built, achieve the retirement life they want and protect their assets. Think you can’t afford a retirement plan? Think again as you consider the following hypothetical…